Police seized scrapped notes worth RS 7 crore

Hyderabad June 22: The Hyderabad police officials have been busted yet another demonetised currency racket here on Thursday.

They also reportedly seized about Rs 7 crore worth of demonetised currency at Jubilee Hills on Thursday.

Two persons were taken into custody in connection with the case.

Following a tip-off, officials from the Central Zone Task Force raided the premises of Srinivasa Enterprises Company, a film production house at Jubilee Hills and seized the currency. Demonetised notes of Rs 500 and Rs 1000 were illegally stored at the office. It’s suspected that the currency was brought from Chennai to Hyderabad late on Wednesday night.

The production house manager, Srinivas and another person identified as Ravi were arrested. However, it’s yet to be ascertained whether the demonetised currency was to be exchanged for the new currency.

Meanwhile, reports emerged claiming that Telugu actor Jeevitha Rajashekar's brother Murali Srinivas's involvement in the racket. However, the actor denied the reports and said her brother is admitted in a hospital. She further said she just knows the suspect Srinivas, as he worked as a manager for her production house.